Worries about weak iPhone demand put pressure on chipmakers
** The Philadelphia semiconductor index .SOX was underperforming on Monday, down 2.45% as concerns about weaker than expected demand for the latest iPhone model from Apple Inc AAPL.O put pressure on shares of chipmakers
** Apple shares were down 2.9% after TF International Securities analyst Ming-Chi Kuo wrote on X that demand for iPhone 16 Pro models lower than expected. Jefferies analyst Edison Lee wrote in a research note dated Sept 15 that "demand seems weak to start with"
** The reports appeared to dampen investor appetite for chip stocks, which were among the biggest decliners in the S&P 500 technology index .SPLRCT.
** Shares in Qorvo Inc QRVO.O were down 7.6% and Skyworks Solutions SWKS.O stock was off 6.6%
** Micron Technology MU.O was off 4.7% and U.S. shares of ARM Holdings ARM.O, which licenses technology to chipmakers, were off 5%. Contract chip manufacturer Taiwan Semiconductor Manufacturing co's U.S. shares TSM.N were down 3%
(Reporting By Sinéad Carew)
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